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Investors Cheer Tesla Strategic Shift

Tesla shares climbed nearly 2.5% on Monday following the electric vehicle producer said it decided to keep significantly more stores open than previously announced in order to continue to evaluate them over the course of several months.

Tesla announces price hikes and backtracks on its previous decision to close most of its stocks. Shares enjoy a good session.

Stocks impacted: Tesla (TSLA)

As a reminder, the company announced in February a plan to wind down most of its stores as part of a strategic shift toward online-only sales. Now, Tesla decided to increase vehicle prices by roughly 3% on average and close only about half of its stores. By the way, Tesla said its recently launched Model 3 sedan will be spared from price hikes. Market reaction shows that investors approved the latest strategic shift in the company.

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